Full Press Release Details
Announces Closing of $12.1 Million Follow-on Underwritten Offering
Israel - February 2, 2021 - BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV), a biopharmaceutical company focused
on developing, manufacturing and ultimately commercializing products for the prevention and treatment of infectious diseases and
related illnesses, today announced the closing of its previously announced underwritten offering. The total number of American
Depositary Shares ("ADS") sold by the Company was 2,434,783, each ADS representing forty (40) of its ordinary shares,
at a public offering price of $4.95 per ADS, for gross proceeds to the Company of approximately $12.1 million, before deducting
underwriting discounts and other offering expenses.
connection with the offering, the Company has also granted the underwriters a 30-day option to purchase up to an additional 15%
of the number of ADSs offered to the public at the public offering price, less underwriting discount, for covering over-allotments,
if any. If the over-allotment option is exercised in full it would increase the total gross proceeds of the offering to approximately
Capital Corp. acted as sole bookrunning manager for the offering.
intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, for general corporate
purposes, which may include working capital, research and development activities, regulatory matters, capital investment or other
related purposes. The Company may also use a portion of the net proceeds to in-license, invest in or acquire businesses, assets
or technologies that BiondVax believes are complementary to its business focus, although BiondVax has no current commitments or
agreements in those regards.
ADSs described above were offered by the Company pursuant to a registration statement that was previously filed with the Securities
and Exchange Commission (the "SEC") and declared effective by the SEC on August 10, 2020. A prospectus supplement
and accompanying base prospectus relating to and describing the final terms of the offering are available on the SEC's website
located at www.sec.gov or from Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New York, NY
10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010.
press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of any such jurisdiction.
Pharmaceuticals Ltd. (NASDAQ: BVXV) is a biopharmaceutical company focused on developing, manufacturing and ultimately
commercializing products for the prevention and treatment of infectious diseases and related illnesses. The Company had been
developing M-001, a novel influenza vaccine candidate that was designed to provide multi-strain and multi-season protection
against current and future, seasonal and pandemic influenza. In seven Phase 1/2 and Phase 2 clinical trials designed to test
for immunogenicity, the Company was able to demonstrate M-001 was effective in stimulating an immune response to a broad
range of influenza virus strains. In October 2020, the Company completed a Phase 3 clinical trial of M-001 which failed to
meet the trial's primary and secondary efficacy endpoints. The company is now pursuing opportunities in the infectious
disease space, including exploring several alternatives for development of a pipeline of assets.
E. Phillipson | +972 8 930 2529 | j.phillipson@biondvax.com
press release contains forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. Words such
as "expect," "believe," "intend," "plan," "continue," "may,"
"will," "anticipate," and similar expressions are intended to identify forward-looking statements, including
statements regarding future business strategies that BiondVax may explore. These forward-looking statements reflect management's
current views with respect to certain current and future events and are subject to various risks, uncertainties and assumptions
that could cause the results to differ materially from those expected by the management of BiondVax Pharmaceuticals Ltd. Risks
and uncertainties include, but are not limited to, the risk that BiondVax may not be able to secure capital on attractive terms,
if at all; the risk that BiondVax is currently exploring new business strategies after its M-001 universal influenza vaccine candidate
failed to meet the trial's primary and secondary efficacy endpoints; the risk that the European Investment Bank may accelerate
the loans under its finance contract with BiondVax; the risk that BiondVax may not execute a strategic alternative to M-001; risks
relating to the COVID-19 (coronavirus) pandemic; BiondVax's ability to acquire rights to additional product opportunities;
BiondVax's ability to enter into collaborations on terms acceptable to BiondVax or at all; timing of receipt of regulatory
approval of BiondVax's manufacturing facility in Jerusalem, if at all or when required; and the risk that drug development
involves a lengthy and expensive process with uncertain outcomes. More detailed information about the risks and uncertainties
affecting the Company is contained under the heading "Risk Factors" in our prospectus supplement, which is available
on the SEC's website, www.sec.gov. BiondVax undertakes no obligation to revise or update any forward-looking statement for